So today from Bloomberg, yet another fear mongering pitch gets thrown to shape public opinion about Californians and their supposed water shortage. The clever ones at Bloomberg titled their piece, California's Drinking Problem

Right in the opening paragraph — because they know most don't read beyond two paragraphs — the spin doctors mention that "farms use 80 percent of the state's water"  and that "cities and towns" must do their share. Notice how the Bloomberg deceivers never say what they should say, putting the onus on people — farmers and city residents.

It's all rather convenient. Later when higher food prices hit shelves owing to massive cash accretion from the policies of Ben Bernanke and his successor Janet Yellen at the Federal Reserve, politicians can blame it on the weather.

But what about reality? Isn't that what all should strive to know?

Back in February of this year, in Monday, February 17, 2014 CALIFORNIANS TOLD THEY'RE SUFFERING AN EPIC DROUGHT, MEANWHILE 39 TRILLION GALLONS OF WATER GO UNTAPPED I revealed that Californians never need fear a shortage because of Lake Tahoe. Enough water evaporates from the surface of Lake Tahoe every day to meet the water needs of all 3.5 million people living in Los Angeles, every day!

Now, let's look at the rivers of California. Most think of Hollywood stars, beaches and sunsets when they think of California. However, California is a river state

The U.S. Geological Survey defines discharge as the volume of water passing through a point of measurement within a period of time. Discharge gets expressed as cubic feet per second (cfs), which is equal to a volume of water one foot high and one foot wide flowing a distance of one foot in one second.

The amount of water in discharge equals 7.48 gallons of water flowing each second,  448.8 gallons each minute, 646,272 gallons each day as well as 1.98 acre-feet each day.

Major river systems that water much of the San Joaquin Valley are the Sacramento River, the San Joaquin River, the Kings River and the Kern River. Let's assume unionized government technocrats get right using those rivers to water the many farms of the SJ Valley.

Let's look at other rivers, the rivers in far north California. Using the average flows from the recording period for each river, let's see how much water Californians have in a few rivers.

From five rivers alone, Californian politicians let 6.6 billion gallons a day flow into the Pacific unused! Look at it! 276.6 million gallons an hour flow into the Pacific!

Where is the water shortage?

Rather than relying on vacuous-minded politicians whose sole purpose is to gain votes for re-election as well as theoretical modeling talking shop technocrats never who have proven to have gotten anything right, Californians should come to rely upon a futures market for property in water. The technocrats of California with their pseudo-science have failed to protect Californians from the vagaries of nature in a way that only futures markets can. 

A continuous, open market for water contracts would assure reasonable return to capital needed to create property in water. In so doing, prices would reflect the highest, best uses, and thus achieve among other things, conservation, without the need of a heavy-handed, inept, pseudo-scientific technocratic bureaucracy. 

It is for futures markets that Americans never run out of gasoline or food. Why should Californians as well as all Americans view water as different from these other things?

For those interested in current data: Current Conditions for California: Streamflow (494 sites)